|Specialty||# of Agencies|
|Single House or Condo||13|
|Home Owners Association||7|
|Total Local Companies||23|
The average rent for a 3 bedroom house in Tampa, FL is $1,349.00. When you receive your requested free market assessment, compare the average rent to what a property manager expects your property to rent for before making your decision on which manager to hire.
Tampa, FL Rental Market Overview
Economic Growth Exceeds Expectations as Vacancy Rate Continues to Drop
While Florida foreclosure inventory seems to invariably dominate real estate news, there are some consistently bright spots in the Sunshine State, including the Tampa-St. Petersburg-Clearwater metropolitan area. The local economy even surprised the forecasters for the 2013 Marcus & Millichap National Apartment Report (NAR), who didn't expect two consecutive robust years of economic growth from The Big Guava. While Miami (#20) placed highest on the index among Florida rental markets, Tampa (#27) edged out Fort Lauderdale (#28), Orlando (#31), West Palm Beach (#40) and Jacksonville (#44). Most of the economic improvements among the Florida coastal markets are related to strong economic numbers in trade and tourism, although apartment unit surplus concerns temper growing optimism.
Class A Properties in Central Locations Remain in Demand
The 2013 NAR noted that the new or luxury Class A assets that were situated in central or high-demand Tampa locations tend to draw the most interest among tenants and property investors. While 2013 marked the fourth consecutive year of declining vacancies and higher rents among Tampa properties, the report hinted that lower land costs might enable builders and projects in Pinellas County. Until now much of the new apartment expansions have remained focused in Hillsborough County, which has kept construction to around 1,800 units both in 2012 and 2013. If development becomes excessive, it could drive down the asking and effective rates in the area but right now the report suggests that continued economic growth and a shortage of apartments could leave new arrivals looking for existing older properties. If this is the likely scenario, small landlords and independent investors should consider optimizing their property exposure by exploring new marketing channels. Many property management companies in the Tampa-St. Petersburg-Clearwater metropolitan area staff experienced real estate professionals who know the most effective methods for marketing rental properties to tenants and potential buyers. Take a moment to review the Tampa property management companies listed here and then request your free information.Â